Wells Fargo, the 23rd largest company in the US with $1.3 trillion in assets and a major player in the financial services sector, has just announced that it plans to provide $30 billion in loans and investments by 2020 to promote a greener economy. It also plans to provide $100 million in community grants and increased volunteerism for grassroots environmental initiatives and $1 billion for low- to moderate-income communities to prove the added value of community investments with environmental benefits over the same time frame.
The Company has also announced that it will achieve a list of measurable environmental performance goals in its own operations by 2020.
The Wells Fargo announcement, along with links to its Corporate Social Responsibility reports and other aspects of the Company’s environmental business can be found at https://www.wellsfargo.com/press/2012/20120423_WellsFargo30Billion
Wells Fargo operations in Canada are relatively limited and at press time there is no information as to whether the greener economy financing will be of assistance to Canadian companies.